CANADA STOCKS-TSX falls as energy shares offset gain in gold miners

Wed Jun 8, 2016 5:00pm EDT
 
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* TSX down 52.51 points, or 0.37 percent, at 14,313.10

* Eight of the TSX's 10 main groups fall (Updates share prices)

OTTAWA, June 8 (Reuters) - Canada's main stock index slipped on Wednesday as weakness in the energy sector dragged, offsetting gains by gold mining companies benefiting from higher bullion prices.

Gold miners rose 2.2 percent to a nearly three-week high as the U.S. dollar was hurt by declining expectations the Federal Reserve will raise interest rates soon.

Goldcorp increased 1.3 percent to C$23.38 and Barrick Gold rose 1.5 percent to C$24.40.

The energy group, which accounts for about a third of the weighting of the TSX, retreated from gains earlier in the session to fall 2.2 percent.

Shares of Suncor fell 2.8 percent to C$35.47.

The sector's declines came despite a gain in oil prices as supply disruptions sent U.S. crude prices up 2.3 percent to $51.52 a barrel.

The Toronto Stock Exchange's S&P/TSX composite index closed down 52.51 points, or 0.37 percent, at 14,313.10. Eight of the index's 10 main sectors fell.   Continued...